Honeywell, a multinational conglomerate has partnered with SID (The society for Innovation and Development) at IISc (the Indian Institute of Science). This partnership is formed to support the startups involved in solving societal problems.
Six startups that will be funded by the tech company are Azooka Labs, Siamaf Healthcare, Protein Design, Mimyk Medical Simulations, HealthSeq Precision Medicine, and PathShodh Healthcare. These startups are incubated at SID.
Akshay Bellare, President of Honeywell India, said, “As a responsible corporate citizen, we see this partnership as a path to fostering a vibrant startup ecosystem, driving innovation to solve societal challenges, and opening up pathways for job creation and economic stimulation.”
Professor B Gurumoorthy, Chief Executive of SID, commented – “At SID we are well positioned to nurture and grow startups by providing access to the right technology, lab infrastructure, seed funding, mentoring and human capital. We are hopeful that this collaboration with Honeywell, which is a leading technology company, will encourage more corporates to support technology incubation through CSR funding.”
Needs relating to COVID-19 such as Building a new class of eco-friendly specialty fluorescent dyes and a rapid point-of-care diagnostics test for use in low resource settings are also included in the company’s corporate social responsibility contribution.
Honeywell is a technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally.
–AK
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.